The Colbert Real Estate Report

Monthly Market Update for April 2016

Jackson Hole, WY

What’s new in Mar 2016? (New Listing Analysis)

• 48 :: Total number of new listings in March
  • Total New Listing Volume: $66,500,000
  • Average List Price: $1,385,000
• 40 new residential properties (single family, condo, townhome)
  • Average List Price: $1,415,000
  • New listings already under contract or sold: 14
• 8 new building sites
  • Average List Price: $1,235,000
  • New listings already under contract or sold: 3

What it means: New listing activity picked up in March, with nearly 50 new properties hitting the Teton County real estate market. We should expect to see more inventory each month as we get closer to the busy summer selling season. New listings in March outpaced March sales at a rate of 2 to 1, marking the first time since last Aug 2015 that new listings have been at least 2x that of monthly sales. In March, there were 17 new condo/townhome listings under $750,000, adding some much needed inventory to the entry level market. By April 10th, 8 of these new listings were already under contract, illustrating the high demand for properties in this price point. At the other end of the spectrum, there were 7 single family homes that hit the market priced in excess of $2 million including a recently remodeled home in the Gill Addition ($2.25m and pictured below), an equestrian estate in the Flat Creek Fishing Club ($3.96m) and a 5,400 sq ft home in Owl Creek listed for just under $6 million. Eight new lot listings hit the market in March including, 4 of which are located north of Town with great Teton views.

As we approach the busy selling season, Sellers will be in a great position to sell this Spring/Summer. If you are curious about the value of your property in the current market, please contact me for a free and accurate market analysis.

Notable new listings in March include:

• 23 different options to own a tenant-in-common interest at the Fireside Resort – $350,000-$395,000 (Note: These properties are not available for conventional financing. In the new listing stats above, these options were only counted as 2 new listings for March)
• Bright and sunny 3 bed / 3.5 bath townhome in East Jackson – $695,000
• Four contiguous lots zoned for multi-family development in Town  -$3,000,000

Click HERE to view all new March residential listings.

Click HERE to view all new March land listings.

Click HERE to read the full Monthly Market Update for April 2016.

Thinking of listing this summer?

As we approach the busy selling season, Sellers will be in a great position to benefit from low inventory levels in the Jackson Hole market. If you are curious about the value of your property in the current market, please contact me for a free and accurate market analysis. Properties listed by April 30, 2016 will be included in our RE/MAX Obsidian Real Estate Spring Brochure!

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